Trading and Demat Account Opening Process – FYERS

Fyers account opening process

To start trading in the Indian stock markets, a trading and demat account is mandatory; you cannot trade without a Trading and demat account. Therefore, you are required to submit a set of documents along with the account opening application form to get your trading and demat account opened with Fyers.

The documents required to open an account are as mentioned below:

documents required to open a trading and demat account with fyers

Breakdown of each required document:

1. PAN Card – A self-attested photocopy of your PAN Card has to be submitted with the trading and demat account opening application form. Self-attestation (Your signatures) are mandatory to be marked as a valid document.

2. Address Proof – You are required to submit any one of these following documents as an address proof. Please note, that the below list is a requirement as stated by the regulator SEBI, NSE and the KYC registration agencies.
• Passport
• Driving License
• Telephone bills
• Electricity bills
• Bank Statement

Take a note that you need to mention about your correspondence and permanent addresses in the account opening procedure. In case the correspondence and permanent addresses are the same then only one proof can be submitted. However for the different correspondence and permanent addresses you need to provide a proof for each of address separately.

The PAN card and address proof are not required if the applicant’s KYC is already registered. We would appreciate your efforts if you get the documents attested by a gazetted officer. This is because according to the SEBI norms the authentication of the proofs submitted has to be done.

3. Income Proof – If you wish to trade in F&O or commodities segment then you are required to provide us with a proof of income. Some examples of income proof include,
• Copy of ITR Acknowledgement submitted to the Income Tax Department.
• Copy of Net Worth certificate duly signed and certified by a Chartered Account.
• Copy of Form 16 or the latest salary slips.
• Bank account statement of last 6 months.
• Demat account holding statement.

4. Photographs – You need to provide 2 passport size photographs with account opening application form. If you wish to add a nominee to your Demat and Trading accounts then you will have to provide your nominee’s photograph along with his/her proof of identity.

5. Canceled cheque leaf – To confirm your bank details we require an original canceled cheque (with your name above the sign here section) with account opening application form. This would ensure that the account holder’s bank details are authenticated and in compliance in accordance with SEBI guidelines. The canceled cheque leaf is an important document because it gives important information about the account holder:
• Name of account holder
• Bank account number
• IFSC code

Canceled cheque leaf to open a trading and demat account with fyers

    5 Simple Steps to Open a trading and demat account with Fyers

trading and demat account opening procedure fyers

Account opening related documents: If you want to print the account opening forms yourself and fill it manually, you can find it in the downloads section.

Account opening charges:

Trading Account – Opening a trading account with Fyers is free! We do not charge any account opening fee to clients. We also do not charge any fees for call & trade unlike other stock brokers in India.

Demat Account – For demat accounts, we are tied up with IL&FS (Independent, third-party depository participant). They do not have an account opening charge per se, however they do charge an upfront fee of ₹400 + taxes for FYERS clients.

Disclaimer: Fyers account opening process can change without prior notice due to necessary regulatory requirements or efficient alternatives as applicable from time to time.

We have answered many queries in our FAQs. Do get in touch with us if you need any further clarifications. The comments section is a good place to start. If you want us to get in touch with you, please leave your details here.

Tejas Khoday

Tejas Khoday

Tejas is the Co-Founder & CEO at FYERS, the youngest team to get NSE’s broker license. He has a specialization in finance and has over 10 years of work experience spanning across proprietary trading, risk management, and broking. Tejas & his team started FYERS, a technology-focused brokerage as a mission to transform the trading/investment landscape in India.


  • sagar says:

    what is thematic investing ? seriously i d’nt get it

  • sagarsing gusinge says:

    i want to open an account in fyers, i filled account opening form 2 times in last month but no one is ready to reply/contact me from your side, where should i need to contact to open an account? please provide me help line no.

    • Tejas Khoday Tejas Khoday says:

      Hello Sagarsing, We have received your details on 30th January 2018 and on the same day at 3:15 PM, our person Srinivasa spoke with you and you had expressed interest to open an account with us. But then, he tried to call you on 2nd February and then onwards, you have not been available on your phone number. I don’t know how that has happened, but I will ask our teammate to call you tomorrow and help you out. Thanks for writing to me Sagar.

  • Yuri says:

    Hi Tejas,

    My parents have an existing equity brokerage account with IndiaInfoline. However they are not happy with the service rendered by them and have missed a dividend or two due to their negligence and also because they simply could not log in to their own account despite several attempts. Customer service by IIFL has been pathetic to say the least and so would like to know that if we were to go with your services by way of opening a simple equity account, would we in turn get assistance from your team in transferring the existing demat account with IIFL to Fyers? and also if you guys could help out in getting the missed dividends issued back to us. Do let us know the financials involved along with expected timelines.

    • Tejas Khoday Tejas Khoday says:

      Hello Yuri, I understand that you have had a bad experience with them and I wouldn’t want to comment on that. We can help you transfer your holdings and also open a new account with us. The way we work is that once you purchase shares, those shares will be directly credited to your demat account. So, any declared dividends will directly reach your bank account. You don’t have to worry about dividends when investing through us.

  • krishna tripathi says:

    I am Krishna Kumar tripathi now account holder in Sharekhan, I want to open account in u comp, I am living in Lucknow,u any branch in Lucknow
    7565940358,if any sales personal ,send for collect documents

    • Tejas Khoday Tejas Khoday says:

      Krishna, We don’t have any branches but our account opening process is simple and you can send us the filled up forms and documents via courier. If you want to get started, I suggest you leave your details here and our team will get in touch with you –

  • Jagvir Singh says:

    So happy

  • Barsha Gupta says:

    Account opening process started in September 2017 wherein trading account opened within a week but demat account could not due to difference in name in Adhaar and Pan. On 10th November 2017 updated Adhaar was sent with all KYC documemts. Sales person at yours confirmed that all documents are in order and Demat will be opened in soon. As on 26 December 2017, Demat account opened and after follow up several times, ur sales person conveyed that this is not in my hand & i will inform u once it will done.
    Is there any timeline for opening demat account after KYC checks. Will I share the issue on social media or wait some more time?

    • Tejas Khoday Tejas Khoday says:

      Dear Barsha, the delay is due to the following reasons:
      1. There was a name mismatch in your Aadhar & bank details (Spelling difference of Varsha & Barsha).
      2. You had signed as Barsha Gupta whereas it should’ve been Barsha Kumari.
      3. The KYC done by another agency before had done it incorrectly as “Barsha Gupta”. Due to this, we had to wait for 20 days or so.

      Currently, your demat account with IL&FS is under process. It will be opened in a few days, most probably this week itself. Hope you understand that we have to comply with the regulatory requirements before we can proceed to open an account. This is rare though and can occur if the name mismatch exists.

  • Vinod110 says:

    Can you give more referral benefit. i can refer more than 15 clients to fyers because your platform much better than Zerodha or UPstox.

  • Naman says:

    Hello Tejas !
    Whenever I post comments here, it always shows “your comment is awaiting moderation”. Only two times, my comments got posted here. Why does this happen?

    Nevertheless my trading account got opened on 10 Nov so exactly on which date, my demat account will be opened ? I want to trade in equity and I can’t wait any more. Please do something.

    Thank You and Have a nice day !

    • Tejas Khoday Tejas Khoday says:

      Hello Naveen,

      Yes, that’s because our plugin requires moderation. Anyways, we’re going to revamp our website in the near future.

      So usually, the demat takes an additional 2–3 days. We don’t guarantee it because the process is controlled by IL&FS (Our DP partner). You shall receive communication from our end at the earliest.

  • Naman says:

    Hello Tejas !
    I sent my documents to your office through courier. Your sales employee made a mistake while filling KYC form. She wrote gmail instead of ymail so I had to again send this form through courier.
    Due to this mistake, not only there has been delay in my trading account opening process but also I had to incur additional cost of sending my document.
    So, why do I have to bear loss because of your employee ? What if she made another mistake again ?
    Please reply…. THANK YOU and have a nice day !

    • Tejas Khoday Tejas Khoday says:

      Hello Naman, thanks for writing. Guess it’s a human error since 95% + people generally use gmail, so a ymail ID must’ve been recorded by mistake. Anyways, since you feel you don’t want to bear the cost of sending the document again, once your account is opened, we will reimburse the expense you have incurred due to our mistake. Kindly send us the screenshot of the expense incurred and we shall do the needful. Please write to

  • Nandini says:

    Hi Tejas,
    I have initiated Demat and NRE/NRO account opening with YES bank and with your firm. However, money transfer from US to NRE account for trading purposes always incur wire transfer charges… Is there any way we can off-set this additional expense? For example: ICICI bank with whom I have an NRE/NRO account only charge me US$3.00 or less (depending on the amount transferred) if I use their “Money2 India” mode of transfer. The wire charges (US $ 25 per transaction) levied by US banks can soon add up…
    So, even if opening an account with you is what I look forward to, just a Demat account with ICICI will save me $$ if I decide to transfer money as and when it becomes available here in the U.S.
    What’s your opinion on this? Is there a better way to cut down transaction fee?
    Thank you!

  • Lakshay says:

    What is the account opening charge for trading account and demat account?

    • Tejas Khoday Tejas Khoday says:

      Trading = Zero.
      Demat Account = Zero. (The catch is that IL&FS charges an upfront AMC of ₹400+ tax)

  • Neerav_Sadhu says:

    Sir, IL&FS maybe a big company you tied up with but they are not fit for you.. My demat account is pending but trading account was opened long back. What is the reason for this?

    • Tejas Khoday Tejas Khoday says:

      Hi Neerav, I understand that it can take a few days for the demat account to get activated as IL&FS Standard procedures take longer as they have a hierarchical operating procedure. Request you to bear with us till the demat account has been opened. We will be a depository participant soon to plug this inconvenience faced by some new clients.

  • Priyansh says:

    Hi I am a student so can I open BSDA account with IL&FS to avoid account opening charges??

    • Tejas Khoday Tejas Khoday says:

      BSDA account does not have any account opening charges or annual maintenance charges. However, DP charges levied by IL&FS is more expensive at ₹50/- instead of ₹25/-.

  • Aradhya says:

    Can I open only trading account?

  • Mahendra says:

    I have an account with Sharekhan for a long time but now want to shift to fyers.. hope you live up to your good feedback given by friends.

    • Tejas Khoday Tejas Khoday says:

      Hello Mahendra, You’re in good hands. We’re doing a lot of stuff to make traders’ experience much better. Try us out, it’ll be worth it. Yes, we will do our best to live up to it of-course.

  • Brijesh says:

    Waiting for demo id on fyer web and fyer one like upstox. so we can get idea about your interface. because without platform checking cant trade and cant open account.

    think on this its important and primary for fyers and traders…….

    • Tejas Khoday Tejas Khoday says:

      Hello Brijesh, yes we will be creating videos soon. Just been held up responding to queries offline. Thanks for your positive suggestions.

  • vinayak tardekar says:

    Tejas Sir, I didn’t get any reply about my account opening. Please give me required support.

  • vinayak tardekar says:

    I want to open account. contact me at 9689382265

    • Tejas Khoday Tejas Khoday says:

      Hi Vinayak, I assumed you had left your details in our account opening link: Just realised you haven’t after I checked it personally. Anyways, I have entered your details in our system and you shall get a call today for account opening.

  • suresh says:

    can i open only trading account

    • Tejas Khoday Tejas Khoday says:

      Hi Suresh, if you want to trade in derivatives, then you can. If you want to trade equity, then obviously you’ll need a demat account.

  • Subin says:

    Could a student with no income be a part of share market? One of your required documents is about the income.

    • Tejas Khoday Tejas Khoday says:

      Yes, anyone can be an investor in the stock markets. Income is not a restriction, it’s just a formality that needs to be fulfilled.

  • yaseen mulla says:

    How to get the form for demat account

  • vijay says:

    Dear Mr.Tejas khoday,

    I heard fyersone through my friend. Today morning 8-30 A.M, i submitted a request for account opening and demo and my second request at 10-30 A.M nobody is responding through mail or phonecall. How can i belive fyers, before opening the account this kind of response is observing, But after account opening i cant imagine.

    • Tejas Khoday Tejas Khoday says:

      Hi Vijay, when you submit a request it gets queued among others. We do get many inquiries everyday so the follow-up mechanism is structured. We make sure that our person will call you within 24 working hours after the request has been submitted. We received your request twice today. Once at 7:30 AM & another at 10:30 AM. I got feedback from my team that they have already spoken to you as I write this reply.

    • Tejas Khoday Tejas Khoday says:

      We are very diligent in what we do Mr. Vijay. We start work before 9:00 AM so when you tried us, it was at 7:30 AM. We are dedicated to our service quality and have set high standards for ourselves. Hope you were satisfied with the call.

  • Sriram M S says:

    Is that mandatory to open demat account in fyers, what if i already have demat account in any bank?

    • Tejas Khoday Tejas Khoday says:

      Hi Sriram, you can link your existing demat account too but I would recommend against it because at the time selling shares, you will face an inconvenience.

  • Bhatt says:

    Why tie up with IF&FS? When can we expect your own DP?

    • Tejas Khoday Tejas Khoday says:

      That’s because IL&FS is the largest independent DP and to begin with, it made more commercial sense. Well, it will take a while.

  • Shalini says:

    Can i open the Demat for lifetime, So that i can have some reduction in my annual charges

    • Tejas Khoday Tejas Khoday says:

      Hi Shalini, all accounts are lifetime accounts unless you decide to close them. Demat accounts included. You demat account is held with IL&FS hence, we have no control over the AMC charges.

  • Ragava says:

    How much is the DP charges?

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